FRESNO (LN) — A federal judge in the Eastern District of California entered judgment Friday against John Giarmarco, a defendant in the SEC’s enforcement action against Voyager Pacific Capital Management LLC and others, permanently enjoining him from violating antifraud provisions of the Securities Exchange Act and Securities Act and barring him from participating, purchase, offer, or sale of any security.
Giarmarco consented to the judgment without admitting or denying the allegations in the SEC’s complaint, waived findings of fact and conclusions of law, and waived any right to appeal.
The judgment enjoins Giarmarco from violating Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, prohibiting him from using interstate commerce or any national securities exchange in connection with the purchase or sale of any security to employ any device, scheme, or artifice to defraud; to make any untrue statement of a material fact or omit a material fact necessary to keep statements from being misleading; or to engage in any act, practice, or course of business that operates as a fraud or deceit upon any person.
It also enjoins violations of Section 17(a) of the Securities Act or sale of any security.
The judgment bars Giarmarco from directly or indirectly, including through any entity he owns or controls, participating, purchase, offer, or sale of any security, though it does not prevent him from purchasing or selling securities for his own personal account.
The court retained jurisdiction to enforce the judgment’s terms. The SEC may move for disgorgement of ill-gotten gains and civil penalties, with amounts to be determined.